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India’s first trilateral merger in the banking sector was approved by the Union Cabinet among Bank of Baroda, Vijaya Bank, and Dena Bank. When did the merger come into force?

India’s first trilateral merger in the banking sector was approved by the Union Cabinet among Bank of Baroda, Vijaya Bank, and Dena Bank. When did the merger come into force? Correct Answer 1 April 2019

  • India’s first trilateral merger in the banking sector was done among Bank of Baroda, Vijaya Bank, and Dena Bank to create the second largest public sector banking entity after SBI.
  • It came into force on 1 April 2019. Vijaya Bank and Dena Bank are transferor banks and BoB is transferee bank.

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Which bank's proposed merger with Dena and Vijaya Bank will be affected from 1 April 2019?
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4. While commercial banks access to central bank liquidity in the times of distress, shadow banking does not have such resource.
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